Key Developments: HCP Inc (HCP)
50.87USD
24 May 2013
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$51.88
$51.54
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$50.69
1,127,846
2,328,328
$56.06
$39.07
Latest Key Developments (Source: Significant Developments)
HCP Inc Raises FY 2013 FFO Guidance
HCP Inc announced that for fiscal 2013, it expects fund from operation (FFO) of $2.94-$3.00 per share and FAD of $2.41-$2.47 per share and earnings per share guidance of $1.97-$2.03. According to I/B/E/S Estimates, analysts are expecting the Company to report FFO of $2.97 for fiscal 2013. Full Article
HCP Inc Declares Quarterly Cash Dividend on Common Stock
HCP Inc announced that its Board of Directors declared a quarterly common stock cash dividend of $0.525 per share. The dividend will be paid on May 21, 2013 to stockholders of record as of the close of business on May 6, 2013. Full Article
HCP Inc Issues FY 2013 FFO Guidance In Line With Analysts' Estimates
HCP Inc announced that for fiscal 2013, it expects fund from operation (FFO) of $2.92-$2.98 per share and FAD of $2.39-$2.45 per share, representing growth rates, as measured by the mid-point of estimates, of 6% and 9%, respectively; earnings per share guidance of $1.95-$2.01. According to I/B/E/S Estimates, analysts are expecting the Company to report FFO of $2.97 for fiscal 2013. Full Article
HCP Inc Declares Increased Quarterly Cash Dividend On Common Stock
HCP Inc announced that its Board of Directors declared an increased quarterly cash dividend of $0.525 per share on its common stock, compared with $0.50 per share in the previous quarter. The quarterly cash dividend will be paid on February 19, 2013 to stockholders of record as of the close of business on February 4, 2013. Full Article
HCP Inc Prices $800 Million Of 2.625% Senior Unsecured Notes Due 2020
HCP Inc announced that it has priced an offering of $800 million of 2.625% senior unsecured notes due February 2020. The offering size was increased in response to investor demand. The price to the investors was 99.729% of the principal amount of the notes for an effective yield of 2.667%. The net proceeds of the offering will be approximately $791 million, which HCP intends to use to repay $600 million currently outstanding on its bank line of credit, which borrowings were used to fund a portion of the aggregate purchase price for the acquisition of 133 senior housing communities from a joint venture between Emeritus Corporation and Blackstone Real Estate Partners VI, an affiliate of Blackstone, as announced by the Company on October 31, 2012, and for general corporate purposes that may include repayment of $150 million of 5.625% senior unsecured notes due February 2013 and funding of future acquisitions or investments. Full Article
Emeritus Corp Announces Closing Of Joint Venture Asset Sale With HCP Inc
Emeritus Corp (Emeritus or the Company), announced that HCP Inc. (HCP) closed the acquisition of 127 of the 133 senior housing communities that Emeritus had previously announced were to be acquired by HCP from a joint venture between Emeritus, affiliates of Blackstone Real Estate Partners VI (Blackstone), certain former tenants-in-common, and a Columbia Pacific investment fund affiliated with Dan Baty, the Chairman of Emeritus (the Blackstone JV). As a result of the transaction, Emeritus will operate the communities as part of its consolidated portfolio, by virtue of a triple-net lease with HCP. Concurrent with the closing, Emeritus purchased nine remaining properties from the Blackstone JV, for which HCP provided secured debt financing. Terms of the transaction were not disclosed. Full Article
HCP Inc Raises FY 2012 FFO Guidance
HCP Inc announced that for fiscal 2012, it expect FFO applicable to common shares to range between $2.68 and $2.74 per share; FFO as adjusted applicable to common shares to range between $2.75 and $2.81 per share; FAD applicable to common shares to range between $2.20 and $2.26 per share; net income applicable to common shares to range between $1.79 and $1.85 per share; and cash same property performance growth to range from 4.0% to 4.5%. According to I/B/E/S Estimates, analysts are expecting the Company to report FFO of $2.75 for fiscal 2012. Full Article
HCP Inc Declares Quarterly Cash Dividend On Common Stock
HCP Inc announced that its Board of Directors declared a quarterly common stock cash dividend of $0.50 per share. The dividend will be paid on November 20, 2012 to stockholders of record as of the close of business on November 5, 2012. Full Article
Emeritus Corp Enters Into Definitive Agreements With HCP, Inc.
Emeritus Corp announced that the Company has entered into definitive agreements with HCP, Inc. and affiliates of Blackstone Real Estate Partners VI ("Blackstone"), under which HCP and Emeritus will acquire a total of 142 senior housing communities (the "Communities"), representing approximately 11,350 units currently owned by a joint venture comprised of Emeritus, Blackstone, certain former tenants-in-common, and an investment fund affiliated with Dan Baty, the Company`s Chairman (the "Blackstone JV"). Upon consummation of the transaction, HCP will acquire 133 of the Communities for an aggregate purchase price of $1.7 billion, consisting of cash and the assumption of existing debt. Emeritus will receive cash of approximately $140 million, comprised of approximately $40 million for the Company`s interest in the Blackstone JV and an incentive payment of approximately $100 million based on the final rate of return to the Blackstone JV`s investors. As part of the transaction, Emeritus will also acquire nine Communities for $62 million, of which $10 million will be paid in cash and $52 million will be financed with a four-year loan from HCP with an initial interest rate of 6.1%. Final closings of these transactions are subject to customary closing conditions for acquisitions of this nature, including regulatory approvals, and are expected to be completed in the fourth quarter of 2012. Full Article
HCP Inc Declares Quarterly Cash Dividend
HCP Inc announced that the Board of Directors declared a quarterly cash dividend of $0.50 per common share. The dividend will be paid on August 21, 2012 to stockholders of record as of the close of business on August 6, 2012. Full Article
Fitch Affirms HCP, Inc.'s IDR at 'BBB+'; Outlook Stable
(The following statement was released by the rating agency) NEW YORK, April 09 (Fitch) Fitch Ratings has affirmed HCP, Inc.'s (NYSE: HCP) credit ratings as follows: --Issuer Default Rating (IDR) at 'BBB+'; --Unsecured bank credit facility at 'BBB+'; --Unsecured term loan at 'BBB+'; --Senior unsecured notes at 'BBB+'. The Rating Outlook is Stable. KEY RATINGS DRIVERS The ratings reflect HCP's credit strengths, namely steady and predictable cash flows from a large portfolio of high-quality prop
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